By Greg Michael
The days when the New York Times could charge $70,000 for a full-page ad in the main news section and $8,000 each for the “premium” spots Tiffany, Cole-Haan, Ralph Lauren, and Wedgwood’s Maddison Avenue ad agencies buy;ads stacked on top of each other on page two and three for a 12 inch ad compared with the real reach of Google, Yahoo, E-Bay, Drudgereport, AOL and Craigslist.org, Many newspapers, such as the New York Times are managed by sheltered family members and a few editors. They have been looking down their collective noses at the IT, Web world for over a decade now.
The smug club doesn’t realize that their business model consists essentially of a monopoly in a major market. In the case of the Times, a monopoly of reaching the upper demographics. Then put out a paper by wrapping stack after stack of expensive ads with wire copy and a sprinkling of local news, celebrity updates and leaked stories from unnamed sources. That’s considered enterprise, when they take a leaked story from a an anonymous, bitter government insider and publish it to embarrass a Republican administration.
BTW – I believe that PaidContent, in regard to compiling the cutting edge media, is far more useful than the Business Section of the New York Times or the rest of the top 10 major newspapers and even the trade magazines.